DigitalBridge Group, Inc. (NYSE:DBRG) Given Average Recommendation of “Hold” by Analysts

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.2222.

A number of brokerages have weighed in on DBRG. Keefe, Bruyette & Woods boosted their target price on shares of DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a research note on Tuesday, December 30th. Zacks Research upgraded DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 5th. B. Riley downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $20.00 to $16.00 in a report on Tuesday, December 30th. TD Cowen downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Tuesday, December 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently modified their holdings of DBRG. Norges Bank bought a new stake in DigitalBridge Group during the second quarter valued at about $1,868,000. Azora Capital LP purchased a new stake in shares of DigitalBridge Group during the second quarter worth about $23,579,000. Sarasin & Partners LLP bought a new stake in DigitalBridge Group during the 3rd quarter valued at approximately $1,886,000. DAVENPORT & Co LLC raised its stake in DigitalBridge Group by 15.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 1,500,110 shares of the company’s stock valued at $17,701,000 after purchasing an additional 200,110 shares during the period. Finally, Long Pond Capital LP purchased a new position in DigitalBridge Group in the 2nd quarter worth approximately $13,747,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG opened at $15.35 on Wednesday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 255.79 and a beta of 1.69. The business has a 50-day simple moving average of $12.74 and a two-hundred day simple moving average of $11.92. DigitalBridge Group has a fifty-two week low of $6.41 and a fifty-two week high of $15.55.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $3.82 million during the quarter, compared to the consensus estimate of $96.45 million. The business’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, research analysts predict that DigitalBridge Group will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is currently 66.67%.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.